The GBPJPY pair activated the previously suggested bearish corrective track, putting it under strong negative pressure to achieve the previously suggested stations by reaching 201.15, then retesting the extra support at 201.75.

 

Forming extra barrier at 202.55 level and the continuation of providing negative momentum by stochastic will increase the efficiency of the bearish corrective track, to expect targeting 200.45 level, and surpassing it might extend the losses towards 199.20 directly.

 

The expected trading range for today is between 200.45 and 202.55

 

Trend forecast: Bearish